February 12, 2025 • 6 mins
Gary Mattson of Mattson Financial joins us for a Talk of the Town!
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
This is Talk of the Town on news Radio with
thirteen hundred and one oh six nine FM, Brett Keita
and Steve Kelly. Money Mentors Saturdays at ten Sundays at
eleven on Wood Radio. Gary Matsin of MATS and Financial
Services on the line, Gary, thank you so much for
doing this today. Well, happy holidays, Merry Christmas, and it's
(00:21):
nice to be back. No matter what you feel about
the outcome of the election and the next four years
in Washington, DC, no doubt that the new administration could
affect us financially. Where do you think we're headed from
here and what sort of steps can we take or
should we take personally to maybe prepare well. First off,
(00:41):
we know that the original Trump tax era tax cuts
are going to end in twenty twenty five, so whether
they do or do not extend those, we want to
take advantage of those this year.
Speaker 2 (00:54):
That means that if you can.
Speaker 1 (00:56):
You want to look at your iras fourrowing ks and
can we move that money into ross Can we do
some of that because of the higher tax breaks that
were allowed to make sure you're taking advantage of those,
and then of course filling up your four to oh
one case, taking advantage of that. Any matching you're going
on there is great news.
Speaker 2 (01:14):
Now.
Speaker 1 (01:14):
I had an interview with John Rich of Big and Rich,
the Country Western Star. He's feeling very strongly that the
estate tax after about twenty three million is going to
be gone forever.
Speaker 2 (01:29):
That's his thought that's going to happen.
Speaker 1 (01:31):
We'll see really what Congress in the Senate will allow
present like Trump to do.
Speaker 3 (01:37):
Gary always tell us as we get to Christmas time,
obviously look towards next year, like we're doing. In twenty
twenty five. The IRS has released its inflation adjusted tax
brackets for next year, bumping those up by two point
eight percent. How do you foresee using some of these
changes to your client's advantages.
Speaker 1 (01:54):
Once again, it's a great opportunity to take more income
than you need out of your portfolio, pay it at
the lower tax rate, and move that into a non
taxable situation like a roth ira or tax deferral. So
once again the rates are going up, take advantage of that.
Also with that is that look and make sure that
(02:16):
you're harvesting your capital gains. We know that they're looking
at those continuously. I don't believe we're going to have
a major change in that area in the next two years,
but again after that we might so you really want
to look at those capital gains and look at making
sure you have access to dollars.
Speaker 2 (02:32):
If you can defer that.
Speaker 1 (02:33):
That's even better way to go, making sure that you
have growth, but you're not paying taxes on that growth.
If you're curious to find out more, matsinfinancial dot com again,
Money Mentors Saturday at ten am, Sundays at eleven am
on Wood Radio. One of those changes Gary the Irs
could be coming into for those in the early sixties
(02:54):
is what's being called a.
Speaker 2 (02:56):
Super catch up contribution. What's so super about that.
Speaker 1 (03:00):
Well, they're going to allow you, if you haven't used
it already, to actually dump major dollars into retirement. We're
seeing a lot of disparity between some people who have
planned and done very well, and now we're seeing some
people in twilight of their career doing well and be
able to put more money away because they haven't had
that opportunity prior. So we're going to actually have them
(03:22):
capable of putting extra dollars into your four O, one
K and I raise so that you don't have to
depend on social security or other things to get you
through that retirement process. So you really want to watch
close to the tax codes, be prepared for that, and
sit down with a fiduciary that understands where you're at,
where you want to go, that can complete your dreams,
your goals, and your desires.
Speaker 3 (03:43):
Gary, despite Christmas rally or not, Wall Street seems poised
to finish the year on a high note with gains
despite a lot of uncertainty this year, and obviously we
went through the election. Are you surprised by that? And
do you think we can keep the momentum up in
twenty twenty five.
Speaker 1 (03:58):
I'm an optimistic type of guy anyways, but generally speaking,
I think we're going to be in a double digit
return next year. Wow. But I would tell everybody you know,
we had a really good year. Take those winnings, move
them into a position of less risk so you can
move into the market if it goes negative, or be
in a position to use those for income without risk,
(04:20):
and having those dollars available, because let's face it, you
made it.
Speaker 2 (04:24):
Don't give them back.
Speaker 1 (04:25):
So reposition those dollars that you've made if you've done
them very well, make that position and don't give it back.
Be prepared to use those for consumption if you need money,
but otherwise be ready to use those in investments that
you can have a good return without the major risk. Again,
we're talking to Gary Mattson of Matts and Financial Services.
(04:45):
You'll hear the show Money Mentors Saturdays at ten and
Sundays at eleven a m. Lastly, let's talk again about
your services. I'm somebody listening to the program and I
just don't have a plan for the future when it
comes to my money. We've talked so much in the
past about being prepared. Is it ever too late and
what's my first step? If I'd like to get a
(05:07):
hold of you, Well, it's too late. If you died,
I mean, that's about the end of it. I mean,
you can't make any decisions. Everything's kind of folded into
a lock position when you pass, whether you've got a will,
trust or whatever. So until you actually take your last breath,
there's always an opportunity to make changes.
Speaker 2 (05:23):
And that's what it's really about. It doesn't matter where.
Speaker 1 (05:25):
You're on life's course, if you're in retirement getting ready
to retirement, it's making sure that you have everything that
you need in your retirement plan. It's no different if
you're a construction worker, or you're even working, you know,
a fisherman, you need all the pieces of the tools
you need to make sure you can complete your assignment.
If you're out fishing, you need different lures, different types
(05:47):
of rods, different weights of things, same thing. When it
comes to construction, you want the different tools. When you
have the right tool doing the right job, the job
becomes very very simple and very easy. So that's what
we do at Matts and Financial Services. We look at
everything in your plan. We don't leave anything out and
making sure your plan works for you for your dreams,
your goals, your desires through the three.
Speaker 2 (06:09):
Stages of retirement. Don't forget. We have the go go
slogo and no Go.
Speaker 1 (06:14):
And my mom who's one hundred and one turning in
February again, she's in the slogo. Actually she's in no Go.
She doesn't want to do anything except for get her
hair done, so that's.
Speaker 2 (06:24):
The only time she's leaving. So once again she's in
what we call wealthcare.
Speaker 1 (06:28):
Her money is there to take care of her, make
sure she's comfortable doing the things she wants to do.
She's still walking and doing those things. So each stage
has its different priorities of how you deal with tax
as an income, those type of things, and your clients
should reflect that. God bless her mattsinfinancial dot com to
find out more information Gary Matchin always great information. Thank you,
(06:50):
appreciate it very much, and again Merry Christmas to all.
This is Talk of the Town on news Radio with
thirteen hundred and one oh six nine FM.
This is Talk of the Town on news Radio with
thirteen hundred and one oh six nine FM, Brett Keita
and Steve Kelly. Money Mentors Saturdays at ten Sundays at
eleven on Wood Radio. Gary Matsin of MATS and Financial
Services on the line, Gary, thank you so much for
doing this today. Well, happy holidays, Merry Christmas, and it's
(00:21):
nice to be back. No matter what you feel about
the outcome of the election and the next four years
in Washington, DC, no doubt that the new administration could
affect us financially. Where do you think we're headed from
here and what sort of steps can we take or
should we take personally to maybe prepare well. First off,
(00:41):
we know that the original Trump tax era tax cuts
are going to end in twenty twenty five, so whether
they do or do not extend those, we want to
take advantage of those this year.
Speaker 2 (00:54):
That means that if you can.
Speaker 1 (00:56):
You want to look at your iras fourrowing ks and
can we move that money into ross Can we do
some of that because of the higher tax breaks that
were allowed to make sure you're taking advantage of those,
and then of course filling up your four to oh
one case, taking advantage of that. Any matching you're going
on there is great news.
Speaker 2 (01:14):
Now.
Speaker 1 (01:14):
I had an interview with John Rich of Big and Rich,
the Country Western Star. He's feeling very strongly that the
estate tax after about twenty three million is going to
be gone forever.
Speaker 2 (01:29):
That's his thought that's going to happen.
Speaker 1 (01:31):
We'll see really what Congress in the Senate will allow
present like Trump to do.
Speaker 3 (01:37):
Gary always tell us as we get to Christmas time,
obviously look towards next year, like we're doing. In twenty
twenty five. The IRS has released its inflation adjusted tax
brackets for next year, bumping those up by two point
eight percent. How do you foresee using some of these
changes to your client's advantages.
Speaker 1 (01:54):
Once again, it's a great opportunity to take more income
than you need out of your portfolio, pay it at
the lower tax rate, and move that into a non
taxable situation like a roth ira or tax deferral. So
once again the rates are going up, take advantage of that.
Also with that is that look and make sure that
(02:16):
you're harvesting your capital gains. We know that they're looking
at those continuously. I don't believe we're going to have
a major change in that area in the next two years,
but again after that we might so you really want
to look at those capital gains and look at making
sure you have access to dollars.
Speaker 2 (02:32):
If you can defer that.
Speaker 1 (02:33):
That's even better way to go, making sure that you
have growth, but you're not paying taxes on that growth.
If you're curious to find out more, matsinfinancial dot com again,
Money Mentors Saturday at ten am, Sundays at eleven am
on Wood Radio. One of those changes Gary the Irs
could be coming into for those in the early sixties
(02:54):
is what's being called a.
Speaker 2 (02:56):
Super catch up contribution. What's so super about that.
Speaker 1 (03:00):
Well, they're going to allow you, if you haven't used
it already, to actually dump major dollars into retirement. We're
seeing a lot of disparity between some people who have
planned and done very well, and now we're seeing some
people in twilight of their career doing well and be
able to put more money away because they haven't had
that opportunity prior. So we're going to actually have them
(03:22):
capable of putting extra dollars into your four O, one
K and I raise so that you don't have to
depend on social security or other things to get you
through that retirement process. So you really want to watch
close to the tax codes, be prepared for that, and
sit down with a fiduciary that understands where you're at,
where you want to go, that can complete your dreams,
your goals, and your desires.
Speaker 3 (03:43):
Gary, despite Christmas rally or not, Wall Street seems poised
to finish the year on a high note with gains
despite a lot of uncertainty this year, and obviously we
went through the election. Are you surprised by that? And
do you think we can keep the momentum up in
twenty twenty five.
Speaker 1 (03:58):
I'm an optimistic type of guy anyways, but generally speaking,
I think we're going to be in a double digit
return next year. Wow. But I would tell everybody you know,
we had a really good year. Take those winnings, move
them into a position of less risk so you can
move into the market if it goes negative, or be
in a position to use those for income without risk,
(04:20):
and having those dollars available, because let's face it, you
made it.
Speaker 2 (04:24):
Don't give them back.
Speaker 1 (04:25):
So reposition those dollars that you've made if you've done
them very well, make that position and don't give it back.
Be prepared to use those for consumption if you need money,
but otherwise be ready to use those in investments that
you can have a good return without the major risk. Again,
we're talking to Gary Mattson of Matts and Financial Services.
(04:45):
You'll hear the show Money Mentors Saturdays at ten and
Sundays at eleven a m. Lastly, let's talk again about
your services. I'm somebody listening to the program and I
just don't have a plan for the future when it
comes to my money. We've talked so much in the
past about being prepared. Is it ever too late and
what's my first step? If I'd like to get a
(05:07):
hold of you, Well, it's too late. If you died,
I mean, that's about the end of it. I mean,
you can't make any decisions. Everything's kind of folded into
a lock position when you pass, whether you've got a will,
trust or whatever. So until you actually take your last breath,
there's always an opportunity to make changes.
Speaker 2 (05:23):
And that's what it's really about. It doesn't matter where.
Speaker 1 (05:25):
You're on life's course, if you're in retirement getting ready
to retirement, it's making sure that you have everything that
you need in your retirement plan. It's no different if
you're a construction worker, or you're even working, you know,
a fisherman, you need all the pieces of the tools
you need to make sure you can complete your assignment.
If you're out fishing, you need different lures, different types
(05:47):
of rods, different weights of things, same thing. When it
comes to construction, you want the different tools. When you
have the right tool doing the right job, the job
becomes very very simple and very easy. So that's what
we do at Matts and Financial Services. We look at
everything in your plan. We don't leave anything out and
making sure your plan works for you for your dreams,
your goals, your desires through the three.
Speaker 2 (06:09):
Stages of retirement. Don't forget. We have the go go
slogo and no Go.
Speaker 1 (06:14):
And my mom who's one hundred and one turning in
February again, she's in the slogo. Actually she's in no Go.
She doesn't want to do anything except for get her
hair done, so that's.
Speaker 2 (06:24):
The only time she's leaving. So once again she's in
what we call wealthcare.
Speaker 1 (06:28):
Her money is there to take care of her, make
sure she's comfortable doing the things she wants to do.
She's still walking and doing those things. So each stage
has its different priorities of how you deal with tax
as an income, those type of things, and your clients
should reflect that. God bless her mattsinfinancial dot com to
find out more information Gary Matchin always great information. Thank you,
(06:50):
appreciate it very much, and again Merry Christmas to all.
This is Talk of the Town on news Radio with
thirteen hundred and one oh six nine FM.
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